Quitting Big 4 at the end of the year – Help needed

I plan to leave my big 4 firm after completing my second year. I have a new job lined up with a buddy of mine and I can start anytime starting in September, but I want to wait until January. I currently have vacation booked for a few weeks around Christmas and New Year time. I’m going into real estate, and I won’t be doing any accounting. I have passed all my CPA exams and the firm has submitted my work experience to the CPA board. I’m just waiting to hear back from the board. I don’t have any plans to come back to a career in accounting, but I do want to make sure I don’t burn any bridges in case I have to come back out of necessity – I realize that the real estate business is very cyclical.

With that info in mind, here are my questions:

– Is it a complete dick move to wait and quit at the end of December, shortly before busy season starts in mid-January? How do big4 firms view that? I would guess that it is fairly common. I’m not particularly afraid of how pissing people off might affect my future, but I also want to quit without screwing over the people I work with.

– If I put in my resignation notice right before my December vacation, and they decided to let me go right then and there, would I still get paid for vacation that I had accumulated but not used anyway? And would I still keep my insurance until the end of December? It seems to me like terminating my employment right before my vacation would be the same as remaining an employee on vacation for those few weeks. Do I understand that right?

– I would like to call myself a CPA in my new line of work (on linkedin, business cards, etc.) because I think it shows people how competent I am even though it has little to do with the work I’ll be doing. Can I do that if I don’t keep my license active?

– If I have to keep my license active to call myself a CPA, is it worth it? What are the education hours required in CA? the cost?

Thanks in advance!

N.E.R.D.

1) Who cares what they think? They’d fire you at the drop of a hat if it benefited them. Just wrap up your projects with those you care about and bounce.

2) Depends on the state. Since you mention CA in #4 I’m going to assume you live in CA; they must pay you out all your accrued vacation because it is considered earned compensation.

3) No.

4) Matter of opinion. It’s a generally favorable designation to have after your name. If you have it, the 80 hours for 2 years of Continuing Ed is not terribly difficult to maintain it.

Congratulations and good luck in industry.

Tim Ryan

It’s people like you that influence the younger generation to quit their jobs in an unprofessional manner. Then we have to spend more money on recruiting, which lowers my partner earnings ratio. Tim Ryan does not approve of your comment. #PwC

Biff Tannen

Tim’s concern about the numbers on his K-1 overrides all else.

Big4Veteran

1) I disagree with N.E.R.D. It absolutely is a dick move to quit at the end of December or beginning of January. N.E.R.D. is always acting holier than thou on GC, but he is giving you dickish advice right here. You will burn all your bridges with the firm if you do this, and you’ll be screwing all the people you work with. That said, if you have no plans to do accounting work ever again, then fuck it. Do what’s best for yourself.

2) N.E.R.D. is correct.

3) N.E.R.D.’s answer is incomplete at best. I don’t know if this is a nationwide thing, or if it is state by state, but you may have the option to let your license go “inactive”. This basically means that you are not doing the required CPE to stay active, but you are keeping your CPA license. This would allow you to still claim to be a CPA, but you may be required to note your inactive status. For example, you would write your name as “quittingsoon, CPA (Inactive)”.

4) I think its worth it to keep your CPA license, and even use it in your non-accounting profession. I know of a real estate agent who started off in accounting, got his CPA license, and now does no accounting whatsoever. He still includes his CPA designation on all his real estate advertising. And if you can go the inactive route (see #3 above), then you don’t have to waste any time with all that CPE bullshit.

Debit_cash

-A dick move to quit before busy season? What about all people that are laid off right after busy season, is it fair to say that the firms made a dick move? There’s no loyalty in this game. That’s why they call it employment at will.
-The OP should only worry if he intends to apply to the same firm in the same region. There are plenty of other firms that will hire him. The OP has options

Biff Tannen

I see both sides of this one I guess, but I struggle with the concept of trying to be accommodating/nice to an accounting conglomerate while on the way out the door.

Debit_cash

Two weeks is more than enough time. The way I see it, when someone puts in a two week notice, they better be prepared to be let go on the spot (it’s common practice for the firms to let you go rather than letting you finish your two weeks). If you put in a two month notice, you run the risk of being fired and foregoing two months of salary. Its better to do what’s best for yourself. Loyalty is for suckers (at least in the context of public accounting).

Big4Veteran

True story: When I was a manager at my B4 firm, I once had a coachee who decided to quit after his first year, and he mailed it in shortly before busy season. Long story, but he hated the work in public accounting. I took him out for a couple beers a few days before he was to leave, and I could tell that he was desperate for me to absolve him on behalf of the firm and tell him that he wasn’t burning any bridges and everyone would continue to like him. But I am not one for bullshit.

I looked him straight in the eye and said “You made your decision, and you are doing what’s best for yourself. This is the business world. You have to look out for #1, because no one else will. Are you burning bridges at the firm, and are people upset with you? Yes. So fucking what? You just need to own your decision and move on. No one will fucking remember that you even worked here six months from now.”

I don’t think he liked my commentary, but whatever. I haven’t heard from him since.

Debit_cash

Working in public accounting is comparable to a game of chess; you always have to watch your own neck to make sure your not getting (or will get) screwed, yet you have to be willing to play the game to reap any long term gains (better salary, better exit opportunities, etc.).

N.E.R.D.

Man, you’re the one who is all about “loyalty is for suckers” and “look out for #1.” We agree on this. Not sure what caused you to change your mind.

I don’t think it’s bad advice. Seriously, who cares if you give your 2 weeks and bounce? As you know they’ll fire you whenever they feel like it; the ax of at will employment cuts both ways.

Debit_cash

B4V is a softy now. Thats what happens when you move to industry

Big4Veteran

Nah, its what happens when you get older and your testosterone starts to decline.

I_LIHTC_ur_Mom

heard of the Low T clinic? They have radio add all the time

Big4Veteran

I agree that we agree. I’m not saying the OP shouldn’t quit. He should absolutely do what he wants to do. And yes, loyalty is for suckers.

All I’m saying is that it’s a dick move. That doesn’t mean he shouldn’t do. I’m just trying to make him realize it, and own it. That’s all.

P.S. As you, and others have correctly stated, the firms make dick moves all the time. They never apologize for it, or think twice about continuing to do it.

N.E.R.D.

Okay. Fair points.

kodos _

“You will burn all your bridges with the firm if you do this.” Not really. There’s constant turnover at all levels, HR up thru partners. OP’s file is not going to be flagged “ineligible for rehire” just because resignation time of year (with 2 wks notice, keeping everything classy). If OP wants to work for same firm, in say 2 years, then-current hiring manager isn’t going to let something like this override his/her judgment on hiring. This even more true if it’s a different office of the same firm.

More generally, it’s not a dick move. Everyone is expendable, and everyone has to do what’s in his/her best interests. OP should not feel guilty, or in need of absolution.

Biff Tannen

1 – Even if avoiding pissing off your B4 overlords mattered, I still see no reason to avoid quitting in December. It’s a dead time. They’ll have a month or two to replace you. Don’t feel bad.

2- You would probably get a vacation time cash out. If you earned it, it’s yours by law and I bet it would show up in your final check. Insurance is another matter. I assume your coverage would end if they fire you. You could buy a plan on the exchange in the interim, or use COBRA (Google it).

3- I’ve seen people list themselves as CPAs when they have an inactive license. Some just call themselves “CPA”, and some go with the “CPA (Inactive)” moniker. All it means is that the AICPA puts you in an “inactive” bucket and that they charge you a fee if you want to reactivate it. You won’t have to do CPEs while inactive.

4- I would say it is worth keeping your license active. It isn’t that much work (80 CPEs every 2 years, I believe). Why not keep it up just in case?

Debit_cash

-2 weeks is enough time, anything above that and you run the risk of being let go immediately. If you secretly hate your senior and want to make them suffer, quit on your last day, without any kind of notice.
-Even if you burn some bridges, so what? Do you think the firm would feel bad if they had to lay you off? Loyalty is for suckers!
-I’d keep the license. Real-estate has its ups and downs. The license will be your safety net if all hell breaks loose, just like it did in 2008.

Reasonable Assurance

My #1 rule is look after numero uno and family. I’d resign when it works best for you and don’t tell anyone at work your agenda. No one.

For insurance, it’s good to the end of the month when you quit. So if you quit or get fired Dec 1 you’re covered through Dec 31.

Adam Hill

If you are good enough (or needed enough) they will build new bridges if it ever came to that.

Side note – If I was ever asked out for a couple of beers with b4v, I would give up drinking. And I am an alcoholic.

Guest99

Just give two weeks notice, do a good job for those two weeks, and you won’t burn anything.

I want to caution you, however, on your move into real estate. Unless you know how to sell, and are willing to do it almost 24/7 (weekends too, especially weekends if residential real estate), you won’t come close to the income you will make in public accounting in the long term. Every couple of years we have an associate or manager leave to flip houses or become a real estate agent, only to come back to accounting within a year. It’s a good gig until they realize they don’t know when their next paycheck is coming. The stress from public accounting doesn’t hold a candle to that kind of stress.

Commando

Quitting right before busy season is potentially an ethical misdeed, especially if some client is going to get left in the lurch.